New Issue: RBC prices $4.69 million trigger gears linked to S&P 500

By William Gullotti

Buffalo, N.Y., Oct. 19 – Royal Bank of Canada priced $4.69 million of 0% trigger gears due Oct. 19, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.38 times the index return. Investors will receive par if the index declines by 25% or less and have one-to-one exposure to the index’s decline from its initial level if it declines by more than 25%.

RBC Capital Markets, LLC is the agent with UBS Financial Services Inc. acting as the placement agent.

Issuer:	Royal Bank of Canada
Issue:	Trigger gears
Underlying index:	S&P 500
Amount:	$4,686,020
Maturity:	Oct. 19, 2027
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is greater than zero, par plus 1.38 times index return; par if index declines by 25% or less; full exposure to index’s decline from initial level if index declines by more than 25%
Initial level:	3,583.07
Downside threshold:	2,687.3, or 75% of initial level
Pricing date:	Oct. 14
Settlement date:	Oct. 19
Agent:	RBC Capital Markets, LLC with UBS Financial Services Inc. as placement agent
Fees:	0%
Cusip:	78016D778

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